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A cheque allows a bank to pay a specific amount to any organization or individual. However, nowadays, cheques have lost their importance due to the development of electronic alternatives. But you might need a cheque sometime when e-transfer is not a viable option. Therefore, you will have to understand how to use it to make the process safe. We will discuss the CIBC void cheque in the following. We will cover how to use it, read it, and get it. Keep reading if you want to know more about the CIBC sample cheque.
What Is a Sample Cheque?
A sample cheque is a paper cheque, but it will look different. Yes, it will come with a sample word on it. That means you cannot use that cheque to withdraw money. But you can use it to get all the information. Yes, it is a document that provides essential banking information. People use sample cheques to share their banking information with someone.
What Is a Void Cheque?
A sample cheque is a void or specimen cheque. You will need this cheque while setting direct deposits to a bank. Also, you can consider using this for pre-authorized debits, including childcare, rent, or loan repayments.
As it will have all your bank details, the receiver can use the banking information to connect with your bank account. The data will help to make withdrawals and deposits. If you want to create a void cheque, you can write Void across the cheque front with a dark pen. With this simple step, you can make void cheques for your use.
What Are Void Cheques Used for?
You can use a void cheque for setting up an electronic link with your bank account. People mostly use it while preparing pre-authorized debit agreements. Here are some usages of the void cheque you can go through.
Insurance payment deposits
Loan payment withdrawals
Set up direct deposits
Rent Payment withdrawals
Mortgage payment withdrawals
In brief, you can use a void cheque whenever you want to share your banking information. As it is a void cheque, no one can use it to withdraw money from your account.
How Do I Void a Cheque?
You will have to write VOID across the cheque using a dark pen to make it void. You can use a blue or black pen. You can use a permanent marker as well. Also, you will have to avoid covering any number in the lower left of your cheque. If you write on those numbers, the recipients cannot get all the required banking information. The bottom left side of the cheque will contain the banking information that your recipient will need to set up the link to your account.
How Do I Write a CIBC Cheque?
You will have to follow a few steps to write a CIBC cheque. Here are the steps for your help.
Cheque Date: Use the upper right corner of the cheque to fill in the date. You will have to write in the YYYY-MM-DD format.
Payee Name: Find where it reads ‘pay to the order of’. You will have to write down the name of the beneficiary there. Make sure that the spelling is correct.
Amount in Number: You will have to write the amount in the number form. You can write “125.50” for $125 and 50 cents.
Write the Amount in Words: Write in the appropriate field under the Payee’s name. It is not a compulsion. But you can write it to avoid any confusion.
Signature: After entering all the details, you need to sign the cheque in the bottom right corner. Without your signature, the cheque will be invalid.
Memo: Fill the memo area with the reason for payment. You can write Rent Payment for January.
How Do I Read CIBC Cheque Information?
The cheque will have all the essential banking information. You can find a lot of banking data. Here are the details you can get from a CIBC sample cheque.
Home Address: You will find the home address on a sample cheque. You might want to share your home address while giving your bank details to someone.
Bank Branch Address: The sample cheque will have the branch address of your CIBC bank. Yes, it will have the address of the CIBC branch where you have opened your account. The branch can resolve many banking issues.
Transit Number: The cheque will also include the 5-digit transit number of the branch. The number will help to identify the branch.
Institution Number: The cheque will have the institution number. It is a 3-digit number that will identify your financial institution regardless of your specific branch. The institution number of CIBC is 010.
Account Number: The cheque will also include your account number or folio number. The account number will identify your account. However, you cannot use your account number to transfer any amount without using the institution number and transit number. Your account number is sensitive information. Therefore, you will have to be careful while sharing your sample cheque with anyone. The strength of the account number will vary based on the branch. However, the account numbers of CIBC are mostly seven digits.
You will have all these banking details on your cheques. Therefore, you will have to take extra caution while sharing a cheque with anyone.
How Do I Get Specimen Cheques from CIBC?
As mentioned above, a sample cheque is also a void cheque. You will have to write SAMPLE on sample cheques and VOID on void cheques. You can make a cheque void by writing VOID across the cheque. However, cheques are expensive, and you can use sample CIBC cheques instead of cheques. You can get sample cheques via online banking. You will have to follow a few steps to get Direct Deposit Form or Void cheque from the CIBC.
Using Online Banking:
Sign in to your CIBC account.
Go to “My Accounts” and select the account you want a sample cheque for.
Go to “Deposit Account Details” and choose “Void Cheque / Direct Deposit Info.”
Click on “Print.”
After completing this, a PDF file containing the sample cheque will appear in your browser. Please proceed to download it.
The process will be simple and will not require any expertise. It is noteworthy that CIBC sample cheques will include all the essential information that you will find on your cheque. It will have the institution number, branch number, transit number, and account number.
Once you have the copy, you can share it with anyone who wants to set up a pre-authorized debit or direct deposit from or to your bank account.
Can I Get Free Cheques from CIBC?
Yes, you can get free cheques from CIBC. However, you will have to talk to the customer service to know the procedure. It is worth mentioning that some banks offer discounted or free cheques. However, you will have to review the terms and conditions. There might be monthly maintenance fees and other charges. Therefore, you will have to ensure that you have gone through extra charges before considering free cheques.
How Much Do CIBC Cheques Cost?
Prices will vary, and you will know the exact amount while placing the order. You will also have the option for overnight shipping, tracking services, and usual delivery. You will have to pay around $151.00 for 200 handwritten business cheques. The end cost will be $219.00 for 250 voucher computer cheques. 100 personal cheques will cost you $47.65. For 200 deposits slips, you will have to spend around $37.23. The cost might be a bit more or less based on different conditions.
How Do I Print Specimen Cheques from CIBC?
As mentioned earlier, you can get CIBC cheques for free. You can order online, and you can print the cheques. However, you will have to meet some requirements. You will have to ensure that you have written your banking information in a magnetic link. You can print the sample or specimen cheque from the website. You can visit your account and follow the steps mentioned above. Once you access the cheque, you can get the print out.
Can I Get a CIBC Cheque Over the Counter?
The bank will send cheques to you. You will have to wait to receive cheques after placing the order. However, you can order cheques via online banking. You will find it easy, fast, and secure. First, log in to your account and select the account options. Now, you will have to choose Account Services and select Order cheques.
After going through the above steps, you will have to wait to receive your order. Also, you can order cheques at the local CIBC bank. You can call the branch as well.
CIBC bank helps its users with friendly customer service. Whenever you doubt any transaction or cheques, you can reach out to the customer support team. They can answer all your queries!